On 26 January 2026, the UK Accelerated Settlement Taskforce (AST) issued its final Quarterly Review of 2025.
A key message in the Quarterly Review is that market participants are expected to already have project plans in place to facilitate the move to T+1 settlement by October 2027. By the end of 2026
On 21 January 2026, the Financial Stability Board (FSB) published its 2025 Resolution Report (the Report).
Overview
The Report reviews the progress achieved on enhancing crisis readiness across banks, insurers and central counterparties (CCPs) in 2025 and the FSB’s priorities for 2026 to advance the operationalisation of resolution frameworks.
Building
On 16 December 2025, the European Banking Authority (EBA) issued a Final Report containing draft Regulatory Technical Standards (RTS) on the determination of the threshold referred to in Article 54(5) of the Central Securities Depositories Regulation (CSDR) and accompanying appropriate risk management and accompanying prudential requirements to mitigate risks
On 12 December 2025, the Basel Committee on Banking Supervision (Basel Committee) and the International Organization of Securities Commissions (IOSCO) published a report that reviews the implementation of margin requirements for non-centrally cleared derivatives. The report concludes that the framework has been effectively implemented and finds no evidence of material issues.
On 12 December 2025, the National Audit Office (NAO) released a report which examined how the Bank of England (BoE) managed the Real-Time Gross Settlement (RTGS) renewal programme to achieve a new system resilient to future developments and risks.
Background
In 2016, the BoE established the RTGS renewal programme
On 27 November 2025, the Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA) jointly published Policy Statement 23/25 – Margin requirements for non-centrally cleared derivatives: Amendments to BTS 2016/2251 (PS23/25).
PS23/25 is relevant to those firms that are in scope of the margin requirements under the UK European
On 7 November 2025, the Committee on Payments and Market Infrastructures (CPMI) and the International Organization of Securities Commissions (IOSCO) published an implementation monitoring report on general business risks.
The report reviews the implementation of Principle 15 of the Principles for financial market infrastructures at a sample of 34 financial
On 5 November 2025, the Financial Conduct Authority (FCA) published Consultation Paper 25/30: Streamlining the UK EMIR Intragroup Regime (CP25/30).
Background
The UK European Market Infrastructure Regulation (UK EMIR) provides exemptions from the clearing obligation and margin requirements for intragroup transactions, as long as they meet certain conditions.
Should
On 29 October 2025, the European Commission (Commission) adopted a Commission Delegated Regulation supplementing the European Market Infrastructure Regulation with regard to regulatory technical standards (RTS) specifying the operational conditions, the representativeness obligation and the reporting requirements related to the active account requirement.
The Commission’s adoption of the Delegated Regulation follows